"28 February 1996" Archive

Warehousing of goods- Fresh instructions

Circular No. 13/96-Custom Duty (28/02/1996)

I am directed to refer to an audit objection from C & AG received by the Board wherein the Audit has pointed out that the Department had failed to initiate timely action under section 72 of the Customs Act, 1962 in respect of the consignment of imported and bonded ship stores leading to the loss of Government Revenue. On ascertaining the ...

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Circular No. 178/12/96-CX Dated 28/2/1996

Circular No. 178/12/96-CX (28/02/1996)

Circular No. 178/12/96-CX During oral evidence before the Pubic accounts Committee on Audit para 3.48/91-92 on the Report of the C & AG of India for the year ending 31.3.1992 the matter regarding fraudulent availment of Modvat Credit by M/s. Sipani Automobiles Ltd. Bangalore, a manufacturer of motor -cars who took Modvat Credit fraudulen...

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Excise on goods manufactured prior to March 1, 1978 but removed on or after March 1, 1978?

Collector Of Central Excise,Hyderabad Etc. Vs. M/S. Vazir Sultan Tobacco Company Limited, Hyderabad Etc. (Supreme Court of India)

The special excise duty was being levied from 1963 upto 1971 by various Finance Acts passed from time to time. It was discontinued from 1972 until 1978 when it was revived by the Finance Act, 1978. Thereafter, it was being levied from year to year by annual Finance Acts.The provisions of these Finance Acts,insofar as the levy of special e...

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